CIBC Asset Management Inc Invests $248,000 in ABIOMED, Inc. (ABMD)

CIBC Asset Management Inc bought a new position in ABIOMED, Inc. (NASDAQ:ABMD) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,468 shares of the medical equipment provider’s stock, valued at approximately $248,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Retirement Systems of Alabama lifted its stake in shares of ABIOMED by 2.0% in the third quarter. Retirement Systems of Alabama now owns 77,159 shares of the medical equipment provider’s stock worth $13,009,000 after buying an additional 1,524 shares in the last quarter. Alps Advisors Inc. purchased a new position in shares of ABIOMED during the third quarter valued at approximately $680,000. Swiss National Bank raised its holdings in shares of ABIOMED by 1.0% during the third quarter. Swiss National Bank now owns 69,600 shares of the medical equipment provider’s stock valued at $11,735,000 after purchasing an additional 700 shares during the last quarter. Scout Investments Inc. raised its holdings in shares of ABIOMED by 3.3% during the third quarter. Scout Investments Inc. now owns 551,949 shares of the medical equipment provider’s stock valued at $93,059,000 after purchasing an additional 17,706 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of ABIOMED by 2.7% during the third quarter. Principal Financial Group Inc. now owns 178,768 shares of the medical equipment provider’s stock valued at $30,140,000 after purchasing an additional 4,716 shares during the last quarter. Hedge funds and other institutional investors own 90.74% of the company’s stock.

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Shares of ABIOMED, Inc. (NASDAQ ABMD) opened at $195.59 on Tuesday. ABIOMED, Inc. has a twelve month low of $103.53 and a twelve month high of $200.00. The company has a market cap of $8,590.00, a P/E ratio of 124.56, a price-to-earnings-growth ratio of 2.59 and a beta of 0.23. The company has a current ratio of 5.84, a quick ratio of 5.20 and a debt-to-equity ratio of 0.02.

ABIOMED (NASDAQ:ABMD) last announced its earnings results on Thursday, October 26th. The medical equipment provider reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.16. ABIOMED had a net margin of 18.27% and a return on equity of 13.89%. The business had revenue of $132.80 million during the quarter, compared to analysts’ expectations of $131.18 million. During the same period in the prior year, the company earned $0.20 earnings per share. The firm’s revenue was up 28.9% on a year-over-year basis. equities research analysts predict that ABIOMED, Inc. will post 2.38 EPS for the current year.

In other news, Director Dorothy E. Puhy sold 6,364 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $179.08, for a total value of $1,139,665.12. Following the completion of the sale, the director now directly owns 39,532 shares of the company’s stock, valued at $7,079,390.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Eric A. Md Rose sold 23,018 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $151.09, for a total transaction of $3,477,789.62. Following the completion of the sale, the director now directly owns 24,652 shares of the company’s stock, valued at $3,724,670.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,646 shares of company stock valued at $8,456,680. 7.00% of the stock is owned by corporate insiders.

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Several research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of ABIOMED from a “hold” rating to a “buy” rating and set a $220.00 price objective for the company in a report on Tuesday, November 7th. SunTrust Banks, Inc. reissued a “buy” rating and set a $195.00 price objective on shares of ABIOMED in a report on Wednesday, November 1st. BTIG Research reissued a “hold” rating on shares of ABIOMED in a report on Sunday, October 29th. Piper Jaffray Companies boosted their price objective on shares of ABIOMED to $200.00 and gave the company an “overweight” rating in a report on Thursday, October 26th. Finally, Leerink Swann reissued an “outperform” rating and set a $200.00 price objective (up from $180.00) on shares of ABIOMED in a report on Thursday, October 12th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $185.38.

ABIOMED Company Profile

ABIOMED, Inc is a provider of temporary percutaneous mechanical circulatory support devices. The Company offers care to heart failure patients. The Company operates in the segment of the research, development and sale of medical devices to assist or replace the pumping function of the failing heart. The Company develops, manufactures and markets products that are designed to enable the heart to rest, heal and recover by improving blood flow to the coronary arteries and end-organs and/or temporarily performing the pumping function of the heart.

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